Public sector lender, Bank of Baroda has scaled lowest in terms of employee productivity, says a report by Reserve Bank of India. The bank has positioned at the bottom despite the fact that it spends higher than the industry average on its employees.
The RBI data released on Profile of Banks for year 2009-10 says that the profit per employee for Bank of Baroda (BoB) is Rs 8000 which is much lower than the industry average of Rs 6.05 lakh in the last financial year.
However, the percentage of wages over total expenses for Bank of Baroda is 16.14% while that of the industry is 14.83% while that of the industry is 14.83%.
Other banks also in the track of BoB are Indian Overseas Bank, Syndicate Bank, Bank of Maharashtra and Central Bank of India.
Standing at the best position in this regard is Corporation Bank. The bank's profit per employee was Rs 9.52 lakh in 2009-10, followed by IDBI Bank at Rs 8.44 lakh. State Bank of India employees earned a profit of Rs 4.46 lakh each for their bank.